NAB has cracked down against hundreds of fake websites attempting to dupe and scam Aussies
27.03.2025 | 1 min read
Published on 20.11.2024
- Global, first of its kind partnership adds extra layer of protection for customers
- Latest action in NAB’s ongoing efforts to reduce the impact of scams on customers
NAB has joined BioCatch, opens in new window Trust Australia as part of ongoing efforts to tackle the scam epidemic targeting Australians.
BioCatch Trust Australia, opens in new window is a first of its kind inter-bank, intelligence-sharing network which allows participating banks to share information in real-time before a payment is made by a customer.
NAB Executive Group Investigations, Chris Sheehan, said the partnership was another crucial action by banks to stop criminals and protect customers.
“Scammers are grubs who will do anything to rip Australians off. We are committed to innovating and using technology to help stop the crime and protect people,” Mr Sheehan said.
Mr Sheehan, a former Australian Federal Police executive, said joining BioCatch Trust Australia was another important step in NAB’s ongoing fight against criminals.
“While we are seeing customer scam losses decrease, we know there’s more to do to make Australia the hardest country in the world for criminals to steal our money,” he said.
“Initiatives like ongoing education, opens in new window are having an impact.
NAB Group Investigations Executive Chris Sheehan. Mr Sheehan is a former Australian Federal Police executive and now leading NAB’s work to reduce the impact of scams and fraud.
“We have to disrupt the scam ecosystem and stop these scams at the source. If we can plug the deluge of dodgy emails, text messages, social media ads and other ways these criminals are bombarding Australians we will force them out of our country.
“Doing that successfully requires banks, telcos, social and digital media companies to all play their part to stop the crime.”
NAB has worked with BioCatch since early 2020 and uses its behavioural, biometric technology in digital channels including the NAB App, Internet Banking and NAB Connect.
The bank also made an equity investment in Biocatch through its NAB Ventures, opens in new window fund.
Background:
Read more about BioCatch Trust Australia at BioCatch partners with Australian banks on launch of fraud and scams intelligence-sharing network, opens in new window
Other action NAB has taken to reduce scams and fraud:
- Introducing payment alerts to the NAB app and Internet Banking. Designed to get customers to slow down and consider where they are a sending money, customers may receive a real-time alert if a payment raises scam concerns or is out of character. Customers have abandoned an average of $470k worth of payments a day after receiving an alert.
- Removing links from text messages to make it easier for customers to identify legitimate messages.
- Since we announced the initiative in July 2023, we’ve sent more than 40 million text messages to customers without links.
- Completed, or on track to complete, all seven initiatives in the ABA Scam Safe Accord on time.
- Blocking some payments to high-risk cryptocurrency exchanges.
- Adding 100 people to the scams, fraud and investigations team so customers can speak to someone faster.
- Ongoing customer and community education via the Security Hub website, direct alerts (eg in the NAB app), emails, social media content and free monthly webinars .
Scams
Related Articles
May Forward View Australia by NAB Economics – A tariff reprieve, but a weaker starting point
Economy
In its May 2025 edition of the Forward View Australia, NAB Economics says the economy is still on track for a soft landing.
26.05.2025 | 2 min read
Coming in for landing in a heavy cross wind – The Forward View Australia
Economy
NAB’s monthly Forward View Australia report brings together the latest insights into the fundamentals of the Australian economy, including inflation, interest rates and employment, and explores the impact of ongoing global uncertainty.
21.07.2025 | 1 min read